Clothing and Footwear Industry in India

Synopsis on Marketing Topic on Clothing and Footwear Industry

Research Proposal on Dissertation Topic on Clothing and Footwear Industry

Market Research Report on Clothing and Footwear Industry in India

Despite recession Indian clothing and footwear market holds on

Indian clothing market managed to hold on despite the economic recession and grew in high double digits for most of the clothing and footwear market subsectors such as men’s wear, women’s wear and children’s wear. The domestic demand for clothing and footwear market in India was helped by the impressive growth in organised retailing that was fast expanding into Indian tier two cities as well. The growth in clothing and footwear was driven by a young population with higher disposable incomes residing in urban and semi-urban India. Despite the recession impacting the Western countries, the Indian gross domestic product (GDP) managed to grow around 6.5% in 2008 and this immensely helped the clothing and footwear market to stay on growth trajectory.

Rising income levels and demand from young population helps market to grow

The clothing and footwear market in India benefited due to rising income levels of the Indian middle class who are contributing to a very fast growing Indian economy. Though towards the end of the year recession did hit, the youth continued to shop as they had fewer liabilities and more disposable incomes.

Women’s wear, children wear and accessories grows at fast pace

The most important factor driving the demand for clothing and accessories in India was the demand for traditionally ignored sectors such as women’s wear, children wear and clothing accessories. Demand for women and children wear grew due to increased number of working woman who had financial independence and demanded easy to carry clothes that fit well. A lot of existing brands launched western style wear for working women in the review period as the demand for western outfits for women grew at a fast pace in India. Demand for children’s wear grew due to increased availability of children’s wear brands and the impact of television advertising on children.

Increased retailing space helps private labels to dominate

The market for clothing and footwear remained fragmented with many players operating and none having a market value share in double digits. But due to a rise in retailing activities, the Indian clothing market witnessed unprecedented growth for private labels. Private labels also grew as they provided the people with the right price points and were cheaper than other regular brands. Also, the recession urged people to look at best value deals and private labels grew as they claimed to provide best quality at cheaper prices. The retailing chains such as Pantaloons, Megamart, Spencers and Lifestyle, all had their private labels selling alongside other branded clothes in their stores.

Styling along quality and comfort to become important in forecast period

Factors such as rising per capita income, exposure to international trends, rising retailing chains and increasingly financially independent women and an exploding youth population are expected to drive the Indian clothing and footwear market in the forecast period. The styling is likely to become increasingly important as people will become fashion conscious and are likely to be willing to pay more for good style. Quality and comfort are other two factors that are likely to help marketers to hold its own in the increasingly competitive Indian clothing and footwear market. 

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